ServiceMax
Why We Should All Be Selling Outcomes, Not Products

DGAP-News: ServiceMax / Key word(s): Miscellaneous

2015-10-26 / 08:29

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LONDON, UNITED KINGDOM --(Marketwired - October 26, 2015) - 
Competing on price is no longer viable for most manufacturers
today, according to ServiceMax, the leading field service
management solution for a new era of business. Globalisation
commoditisation, shrinking product margins and diminishing
returns from a product-centric approach are forcing companies to
look for revenue elsewhere. As we enter the era of the Internet
of Things (IoT), a new and alternative services sector is
evolving, called servitisation - also known as outcome-based
services.

Servitisation is based on the premise that by integrating
services with products, companies can create bundles that are of
greater value than products alone. As manufacturers move from
being purely product providers to becoming service providers as
well, it adds value to their products and generates additional
revenue while removing the need to simply compete on price alone.
From a consumer perspective, the arrival of IoT means life gets
easier and more convenient. From a manufacturing perspective,
life will never be the same again. It's disrupting business as
usual for product manufacturers globally.

'As products become connected, servicing our machines, devices
and appliances will move from reactive product insight to
providing predictive alerts, triggering service technicians with
the right skills to be deployed to the right place before a fault
takes place with preventative maintenance, or in the event that
something occurs,' said Mark Homer, Vice President Global
Customer Transformation for ServiceMax. 'For instance, your
washing machine may alert the manufacturer that its bearings are
wearing thin and in need of replacement.'

IoT and servitisation lets many kinds of companies shift from
selling products to selling services based on those products. The
decision for businesses and manufacturers therefore is not
whether to adopt this model, as many analysts believe will become
inevitable. Focus instead on how to transform (or in some cases
establish) the services department, empower field service
technicians with the right skills and field service management
platform, and align the organisation with service outcomes, not
simply products.

Kevin Ashton, 'Father of the Internet of Things' will be
discussing servitisation and other implications of IoT at
ServiceMax's European customer user conference, MaxLive in Paris
next week on 3 November.

About ServiceMax
ServiceMax leads the massive and global industry of field service
management software -- an $18 billion market worldwide. The
company continues to reimagine and create solutions for the 20
million people globally who install, maintain, and repair
machines across dozens of industries as the only provider of
complete end-to end mobile and cloud-based technology for the
sector. ServiceMax goes to every length -- from joining
technicians on service calls to publishing the industry's leading
online publication -- to help customers discover untapped
innovation, unleash new revenue streams, drive efficiency, and
most importantly delight their end-customer. To learn more,
please visit www.servicemax.com.



PR Contact:

Vanessa Land
Devonshire Marketing
+44 (0)7768 693779
vanessa@devonshiremarketing.com

News Source: Marketwire



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2015-10-26 Dissemination of a Corporate News, transmitted by DGAP - a
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Language:    English        
Company:     ServiceMax     
 
 
             United States  
 
 
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